New Zealand Aims to Enact Crypto Reporting Framework in Tax Bill

The New Zealand government has submitted for approval a new tax bill that includes provisions on reporting tax information on crypto asset transactions.

The bill, introduced Monday, will require crypto-asset service providers in New Zealand to provide information on their users and certain transactions on their platforms. The government will share that information with other tax authorities if it concerns users in other jurisdictions.

The requirements are based on a set of rules known as the Crypto Asset Reporting Framework developed by the Organization for Economic Cooperation and Development, which was made to target tax avoidance through ...